Singapore shares rise at Tuesday’s open; STI up 0.4%

SINGAPORE shares climbed on Tuesday (Jan 30) morning, after global equities ended higher overnight.

The Straits Times Index (STI) rose 0.4 per cent or 10.98 points to 3,151.29 as at 9.01 am. Across the broader market, gainers outnumbered losers 72 to 39 after 79.8 million securities worth S$53.8 million changed hands.

Seatrium was the most heavily traded counter by volume at the open, falling 1.9 per cent or S$0.002 to S$0.106 after 47.4 million securities were transacted.

Other counters that were briskly traded included mm2 Asia , which fell 4.6 per cent or S$0.001 to S$0.021.

Banking stocks rose in early morning trade. DBS gained 0.4 per cent or S$0.11 to S$32, UOB was up 0.5 per cent or S$0.13 at S$28.44, and OCBC rose 0.5 per cent or S$0.06 to S$12.94.

On Wall Street, the Dow and S&P 500 notched fresh records on Monday. The Dow Jones Industrial Average rose 0.6 per cent to finish at 38,333.45, a third straight all-time high, while the broad-based S&P 500 returned to record territory with a 0.8 per cent gain to 4,927.93. The tech-rich Nasdaq Composite index climbed 1.1 per cent to 15,628.04.

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European equities ended marginally higher on Monday, after hitting two-year highs in the previous session. The pan-European Stoxx 600 index closed 0.2 per cent higher at 484.84, hovering near its highest level in two years hit on Friday and coming off its best weekly performance in three months.